Ripple’s XRP has recently achieved a significant milestone by surpassing Binance Coin (BNB) to become the fifth-largest cryptocurrency. This achievement comes as XRP’s price reached $1.91, pushing its market capitalization close to $109 billion. The surge has been fueled by Ripple’s favorable ruling in its legal battle with the U.S. Securities and Exchange Commission (SEC). Pro-XRP lawyer Bill Morgan has also highlighted Ripple’s financial capability to handle the lawsuit penalty, revealing key market cap discrepancies that suggest XRP has already overtaken Solana, although this is not yet reflected on some tracking platforms.
Ripple’s 200 Million XRP Sale Can Cover Lawsuit Penalty
Ripple consistently releases XRP from its escrow account to ensure market liquidity while maintaining a controlled token supply. According to Bill Morgan, if Ripple were to sell 200 million XRP tokens recently released from escrow, it could easily cover the penalty imposed by Judge Torres, potentially three times over. This assertion points to Ripple’s financial resilience, even amidst ongoing legal challenges. At current market prices, these tokens are valued at hundreds of millions of dollars, underscoring Ripple’s strong financial position.
Bill Morgan’s statement highlights Ripple’s ability to generate substantial revenue through XRP sales. This strength is further echoed by the dedicated XRP community, known as the “XRP army,” which continues to support Ripple despite the legal battles with the SEC.
Has XRP Surpassed Solana in Market Cap?
Bill Morgan also pointed out an intriguing discrepancy in market cap calculations for Ripple’s XRP. According to him, there are currently less than 38 billion XRP tokens remaining in escrow. This indicates that when XRP reached a price of $1.90, its market capitalization was nearly $118 billion, contrary to the $107 billion reported by platforms such as CoinMarketCap.
If Morgan’s calculations hold true, it means that XRP has already surpassed Solana in terms of market cap rankings. Solana’s market cap currently stands at $116.45 billion, marking a significant milestone for XRP. However, this achievement has yet to be accurately reflected on some popular cryptocurrency tracking platforms.
Conclusion
The recent developments surrounding Ripple’s XRP highlight a pivotal moment in the cryptocurrency landscape. With XRP surpassing notable competitors like Binance Coin and potentially Solana, Ripple is solidifying its position as a leading player in the crypto market. These achievements are not only a testament to Ripple’s strategic maneuvers but also a reflection of the robust support from its community and legal team.
As the crypto world continues to evolve, Ripple’s journey underscores the dynamic nature of digital currencies and their potential to reshape financial ecosystems. Investors and enthusiasts alike will be watching closely as Ripple navigates its legal challenges and further cements its place in the crypto hierarchy.
